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Jack Ma, no longer China's richest person

Mar 02, 2021 16:27 IST | By Editorji News Desk

Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, according to the Hurun Global Rich list showed on Tuesday.

Ma and his family had held the top spot for China's richest in 2020 and 2019 but now trail in fourth place behind bottled water maker Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and e-commerce upstart Pinduoduo's Collin Huang.

Ma's fall out of the top three comes "after China's regulators reined in Ant Group and Alibaba on anti-trust issues," the Hurun report said.

Business